New software offers SECURE protection against fraudulent higher education applicants

Protect your institutional assets with fraud identification and prevention

(KYS) are an essential function for assessing institutional risk. An effective KYS involves knowing the identity of a prospect, their type of activities and the risk they pose.

Maurice Simpkins, President of AM Simpkins and Associates, is proud to announce his new software solution for higher education institutions that have been experiencing an increase in new fraudulent student accounts and activity since the pandemic. Student Application Fraud Examination (SAFE) is the highly anticipated product of this innovative inventor who has a seasoned portfolio in the higher education industry. This app promises to “protect your institutional assets with fraud identification and prevention and stop scammers before they gain access to your institutional assets”. Across the country, phishers leave their indelible mark.

The pandemic of the past couple of years has spawned a whole new set of emboldened scammers. According to a September 2021 article, published in World News Era, “As the fall semester opened, details emerged that the California Community Colleges system was receiving over 65,000 financial requests suspected of coming from bots. fraudulent. Officials there also considered the requests were likely an attempt to tap into financial aid and coronavirus relief funding.

San Joaquin Delta College is one of over 100 California community colleges targeted. They confirmed that 425 student accounts were fraudulent and over a thousand more are under investigation. Previous USA Today articles paint a similar picture. “Thousands of Michigan residents have received Pell Grants without attending classes over the past year, costing colleges across the state millions of dollars that must be repaid to the federal government. At Henry Ford Community College, $4.1 million — about 10% of the money the college received in Pell Grants — must be repaid to the U.S. Department of Education.

These Pell riders leave a trail of financial destruction behind them, with taxpayers footing the bill. By the time they identify a scam it is too late and they have made payments to fraudulent accounts with no way to recover the loss. Many colleges are resorting to tuition increases to make up for their losses.

The SAFE platform provides round-the-clock monitoring and support, is designed to Higher ed’s operations and business specifications, and protects, prevents and reports fraudulent applications. SAFE provides comprehensive AI-powered spam and fraud detection for student applications at higher education institutions in real time.

“SAFE provides layers of protection by strengthening the defense of higher education data with multi-level fraud and suspicion detection,” said President Maurice Simpkins. SAFE also provides Know Your Student (KYS) for higher education institutions to use as an enhanced due diligence process to verify and identify every new prospecting student. Institutions will gain a better understanding of student activity to mitigate associated risks. According to inventor Simpkins, “(KYS) procedures are an essential function for assessing institutional risk. An effective KYS involves knowing the identity of a prospect, their type of activities and the risk they pose.

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